SaaS Journal

LOS ANGELES, CA -- (Marketwire) -- 02/09/10 -- IVT, the Software-as-a-Service (SaaS) rich media platform provider that is transforming the way businesses webcast, manage and consume video and rich media, today announced that it has closed a $5.5 million series B funding round. Syncom Venture Partners led this round with Barshop Ventures also participating. The new investors join Monitor Ventures and Tudor Ventures, both current investors, in providing capital that IVT will use to expand its go-to-market efforts.

"We're building on our leadership in webcasting and rich-media communications to become a key component of business virtualization," said Greg Pulier, Founder and CEO of IVT. "Our clients are using our offerings to make video and rich media part of much bigger programs that tie together far flung people, business units, and partners -- to train people and unify organizations globally. We're excited to be working with venture partners that provide strategic direction as well as capital and who can help us grow to the next level."

IVT works with such global clients as Oracle, Dow Chemical, IBM and NEC, as well as independent webcasting producers in the event planning, marketing communication and audio-visual sectors. The company's webcasting software enables high-impact, rich media presentations for lead generation, corporate communication, and training. In addition to powering highly customized rich media presentations to large audiences, IVT helps its clients derive long term value from their investment in media by allowing them to archive the content in a searchable, social-network based corporate media portal.

"IVT is the class leader in a dynamic, high growth market," said Herbert Wilkins, General Partner at Syncom Venture Partners. "They are providing end to end solutions for corporations, small and medium businesses, and service providers. We are extremely excited about the future prospects of the company."

IVT is poised to dominate the rich media presentation and archiving aspects of the multi-billion dollar market for business virtualization technologies, which includes solutions for unified communications, e-learning, and online collaboration -- all of which require high performance video for optimal impact and adoption. The company's early embrace of SaaS and cloud-based computing technologies accelerates IVT's presence in this rapidly growing, emerging marketplace.

"IVT has a solid beachhead in webcasting that it can use for strategic advantage as more organizations embrace virtualization," said Bruce Barshop, President of Barshop Ventures. "We're looking forward to working with their team to build the next generation of media-based business virtualization technologies."

About IVT

IVT's technologies transform corporate video communication and webcasting, enabling clients to use rich media for strategic business virtualization. The industry leader in scalable, reliable webcasting software, IVT powers high-impact, rich media presentations for lead generation, corporate communication, and training. Global businesses such as Oracle, Dow Chemical, IBM and NEC depend on IVT technology to streamline the creation, delivery, management and measurement of their interactive rich media presentations. Independent producers of virtual events, Webcasts, and marketing programs leverage IVT's toolset to stream client presentations and augment the profitability of their business relationships. www.ivtweb.com

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